The Bahrain Monetary Agency recently released data which reveals that the nation's insurance sector is expanding gradually.

Gross premiums generated last year from the insurance market, according to the Saudi Gazzette, reaching an estimated $251 million. The figure reflects an increase of 5.4 per cent as compared to the corresponding period of the previous year.

Claims, on the other hand, climbed by some 26.8 per cent during the same period, reaching $126 million, up from $99.2 million.

A total of 19 companies, 11 of them locally incorporated, operated in the Bahraini insurance market last year according to figures from the agency.